Market Perspective
With UAE gold prices hitting record highs—24K touching nearly Dh413 per gram in recent weeks—Dubai jewellers are aggressively rolling out promotions to keep consumer demand alive. The most prominent strategy is rate-lock or pre-booking schemes, where buyers can secure today’s rate by paying a partial amount upfront, insulating them from future price spikes. Many retailers are also reviving instalment and gold saving plans, allowing customers to pay gradually and collect jewellery once the plan matures. To drive footfall, jewellers are slashing making charges, in some cases offering up to 50% discounts during flash sales or festival campaigns. Lightweight jewellery designs, often in the 5–15 gram range, are being pushed to give consumers affordable entry points despite rising bullion costs. Additionally, old gold exchange offers and loyalty rewards are being marketed as value-add options. These tactics reflect a strategic response by the jewellery trade to preserve sales volume at a time when bullion’s price trajectory is making discretionary purchases more cautious.
Consumer Perspective
Gold prices in Dubai have been shooting through the roof lately, but jewellers aren’t letting that stop shoppers. Walk into the souks or malls and you’ll find plenty of deals meant to keep wallets from closing. One of the most popular is the “lock-in scheme”—pay a small amount now and secure today’s rate, so if prices go higher later, you’ve saved yourself a headache. Many shops are also cutting making charges, some by nearly half during weekend flash sales, which means the actual jewellery cost doesn’t sting as much. For those who don’t want to splurge all at once, there are easy monthly instalment or saving plans that spread out payments. And if you’ve got old jewellery lying around, jewellers are encouraging you to trade it in for something new at the current high valuation. Add to that trendier lightweight designs that look just as stylish with less gold, and you can see how the industry is making sure buyers still feel tempted even with prices climbing..
